iPhone Gym App Pays you for Keeping to your Work-Out Schedule

An intriguing new app gives an incentive for iPhone users to keep at least one of their New Year's resolutions: going to the gym more often.

GymPact, which has been available for a few days on the App Store, is a free application that not only makes suggestions about gyms available in the user's area, but also keeps track of the time spent working out.

To make matters even more interesting, users announce their workout schedule and pledge a certain amount of money (at least $5) for each training session. Every time they miss their workout, Gym Pact users lose the money they pledged.

But, there is also a double incentive: the money lost by people who skipped on their gym schedule is divided among people who kept their workout promise. If you are already thinking about cheating and getting some money from it, the two Harvard developers who worked on this app have thought of everything.

Gym Pact uses GPS to track the iPhone's location and checks from time to time to make sure that the user has kept their promise.

So, taking off the pounds could bring in a few pounds! (Apologies to all non-Brits, it doesn't really work with dollars.)